VANCOUVER, BC--(Marketwired - March 24, 2015) - Integra Gold Corp.(TSX VENTURE: ICG)(OTCQX: ICGQF) -
Press Release Highlights:
- Winter 2015 drilling program at Triangle focused on testing extensions of known mineralized zones in all directions
- Reported intercepts confirm extensions up to 330 m down-dip to the south of the Triangle deposit with all zones remaining open laterally and at depth
- Significant intercepts reported today from the Triangle drill program include:
- TM-15-01 (Zone T7) - 14.78 grams/tonne gold ("g/t Au") over 2.0 metres ("m")
- TM-15-02 (Zone T1) - 14.79 g/t Au over 10.0 m
- TM-15-05 (Zones T0 and T10) - 8.01 g/t Au over 4.5 m and 11.47 g/t Au over 8.0 m
- TM-15-06 (Zones T5, T10, and T11) - 7.00 g/t Au over 7.0 m, 5.19 g/t Au over 5.0 m and 11.78 g/t Au over 1.0 m; and
- TM-15-08 (Zone T10) - 15.55 g/t Au over 5.0 m
- 8 drills currently operating at the Lamaque Project, with 5 in operation at the Triangle deposit
Integra Gold Corp. ("Integra" or the "Company") is pleased to announce initial drill results from its 2015 Triangle deposit extension drill program, and final results from condemnation drilling conducted over the proposed ramp at the Parallel Zone on the Lamaque South Gold Project ("Lamaque") situated in Val-d'Or, Québec.
Since the beginning of the year, Integra has completed 19,811 m of diamond drilling in 46 holes with 8 drill rigs as part of its 50,000 m 2015 winter drill program on several key targets. Of this drilling, approximately 11,668 m in 21 holes has been completed at the Triangle deposit.
The results announced today are from the first 12 drill holes on the Triangle Zone representing 6,084 m. Drilling at Triangle is focusing on widely spaced extension drilling of known mineralized zones to the south, laterally to the east and west, and at depth. All Triangle holes disclosed in this news release are from drilling of the southern extensions of the deposit. The Triangle deposit is located in the southern part of the Lamaque project and contains the Company's largest and highest grade indicated resource.
"With 8 drill rigs on site and 20,000 metres of drilling already completed in 2015, Integra is one of the most active exploration companies in the entire industry. Results today confirm the value in this drilling, with step out holes hundreds of metres away from the Triangle deposit intersecting high-grade gold mineralization over sizeable widths. The Triangle deposit remains open to the east, west, south and at depth and through ongoing exploration efforts continues to demonstrate its ability to grow," commented Company President and CEO, Stephen de Jong. "In addition to the success at the Triangle Zone, results of the condemnation drill program at the Parallel deposit two kilometres to the north demonstrate the potential for additional discoveries outside of known resource areas, yet still in close proximity to proposed development infrastructure."
2015 Triangle Extension Drilling Program
The objectives of the 2015 winter drilling program at Triangle are to assess the lateral extensions of the deposit to the south, east, west, and down to depths of up to 900 m vertical. The Company continues to drill sections of widely spaced drill holes to meet those objectives.
This program may be increased at any time dependent on results as they are received. All drill holes disclosed in this news release are from sections drilled south of the deposit with assay results pending for holes drilled east and west of the deposit. Selected drill intercepts from holes disclosed today are presented in the following table:
|
|
|
|
|
|
| Drill Hole |
From
(m) |
To
(m) |
Interval
(m)* |
Gold
Assay (g/t)** |
Zone |
| TM-15-01 |
161.00
480.00 |
165.00
482.00 |
4.00
2.00 |
7.79
14.78 |
T1
T7 |
| TM-15-02 |
180.00
Including
184.00 |
190.00
190.00 |
10.00
6.00 |
14.79
23.14 |
T1 |
| TM-15-05 |
111.00
674.00 |
115.50
682.00 |
4.50
8.00 |
8.01
11.47 |
T0
T10 |
| TM-15-06 |
367.00
787.00
805.00 |
374.00
792.00
806.00 |
7.00
5.00
1.00 |
7.00
5.19
11.78 |
T5
T10
T11 |
| TM-15-08 |
795.00 |
800.00 |
5.00 |
15.55 |
T10 |
|
|
|
|
|
|
*Down-hole thickness, true width varies depending on drill hole dip; most 2015 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width
**1.00 g/t Au cut-off; individual assay values uncut; no minimum thickness
To view a complete table of available composited results for the 2015 drilling at Triangle please click on the following link:
https://www.integragold.com/i/pdf/2015_CompositeCompilationTriangle.pdf
To view a location plan map of the drill holes disclosed today for Triangle please click on the following link:
https://www.integragold.com/i/pdf/TriangleZoneDH_2015-03.pdf
Mineralization at the Triangle deposit is hosted within a series of parallel, shear hosted structures which run east to west dipping to the south at angles varying from 35 to 65 degrees. The Company has identified 34 of these structures within the intrusive and volcanic host rock at the Triangle deposit. Historically, the neighbouring Lamaque mine produced 80% of its 4.5 million ounces from veins hosted within the intrusive host, with approximately 20% coming from veins extending outside of the intrusive in to the surrounding volcanics. A number of the results announced today occur in the volcanics and are interpreted to be extensions of the T-10 Zone.
The T-10 Zone is one of the thickest, highest grade portions of the Triangle deposit and, prior to the 2015 winter drilling, carried approximately 30% of the Triangle indicated resource (using a 4.0 g/t cut-off). Todays' results are especially encouraging as they represent what the Company believes is the T10 zone extension up to 330 m down-dip from the closest drill hole completed in previous campaigns. The T10 Zone is now thought to be a minimum of approximately 275 m wide (east-west), up to 500 m in down-dip length (north-south), with thicknesses varying from 2 to 10 m (true thickness). The T10 zone remains open laterally and at depth. At a 4 g/t cut-off grade, the T10 zone currently contains an indicated resource of 431,900 tonnes grading 9.9 g/t gold for 138,160 ounces and an inferred resource of 103,400 tonnes grading 8.8 g/t Au for 29,410 ounces (see news release dated February 10, 2015). This resource estimate for the T10 zone does not include any of the drilling completed this winter.
In addition to the drill hole location map above, and in order to provide a better visualization of the size and continuity of one of the larger zones at Triangle, the Company has prepared an idealized section (296,400E) and a vertical longitudinal section for the T10 Zone.
It can be seen on the vertical longitudinal sections and cross-section (see links provided below) that the new intercepts reported in hole TM-15-05 of 11.47 g/t Au over 8.0 m (6.5 m true thickness) and TM-15-08 of 15.55 g/t over 5.0 m (4.0 m true thickness) for the T10 Zone represent significant step-outs that have the potential to significantly increase the mineral resource for that particular zone.
To view the idealized section 296,400E please click on the following link:
https://www.integragold.com/i/pdf/T10-x-section-v2.pdf
To view the vertical longitudinal section for Triangle T10 Zone please click on the following link. For clarification this is not a true longitudinal section along the plane of the vein, but a projection of the vein on to a vertical plane, vertical distance will therefore be shorter than real down-dip distance:
https://www.integragold.com/i/pdf/T10-longsection-v5.pdf
On section 296,400E the high grade intercept in hole TM-15-05 is situated approximately 150 m down-dip from the previous closest intercept on the T10 Zone. Hole TM-15-08 also intersects the same T10 Zone an additional 180 m down-dip or 330 m down-dip from the previously drilled intercept reported in 2014, TM-14-32. TM-14-32 returned an intercept of 16.5 g/t Au over 9.00 m (8.37 m in true thickness) as reported in a press release dated May 21, 2014. Results for additional drill holes that have intersected the Triangle T10 Zone to the east and west are still pending, the location of the pierce points for those pending holes are shown on the vertical longitudinal section.
The dip orientation of the T10 Zone appears to be one of the steepest zones intersected to date at the Triangle Zone. Based on the interpretation of the limited results received so far from the 2015 drill program, the extension of this zone appears to be steepening as it gets deeper.
One of the significant intercepts disclosed today (14.8 g/t Au over 10.0 m in hole TM-15-02) is from yet another Triangle zones (T1) which is closer to surface. This shows clear potential for other Triangle mineralized zones to extend and thicken in the volcanic host. The above intercept is 58 m down-dip from the closest holes drilled in 2014 which intersected 9.01 g/t Au over 2.0 m in hole TM-14-49 (see press release dated July 15, 2014) and clearly shows the potential to expand known resources in near surface portions of the Triangle deposit as well.
Parallel Ramp Condemnation Drilling
Condemnation drilling conducted over the proposed Parallel Ramp commenced in December 2014 and was completed in January 2015. The majority of the drilling conducted on the proposed Parallel Ramp area was done in previously untested ground, north of the Parallel deposit. Although results disclosed for that drilling today are generally below the average grade and thickness of the Parallel resource, these results are clearly indicative that gold bearing structures are present and will need to be followed-up in the future. Gold bearing zones identified during the condemnation drilling correspond to east-west sub-vertical shear zone hosted gold mineralization typical of mineralization present at the Sigma Mine which operated a few hundred metres north and produced over 4.5 million ounces of gold over its 75 year mine life.
The following table presents a summary of the most interesting intercepts from that drilling:
|
|
|
|
|
| Drill Hole |
From
(m) |
To
(m) |
Interval
(m)* |
Gold
Assay (g/t)** |
| PR-14-03 |
50.00
168.00 |
50.50
169.00 |
0.50
1.00 |
19.26
4.76 |
| PR-15-02 |
81.30 |
81.80 |
0.50 |
3.45 |
| PR-15-05 |
112.00
123.00
164.00 |
115.00
123.50
168.60 |
3.00
0.50
4.60 |
2.74
4.90
2.86 |
|
|
|
|
|
*Down-hole thickness, true width varies depending on drill hole dip; most 2015 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width
**1.00 g/t Au cut-off; individual assay values uncut; no minimum thickness
To view a location plan map of the drill holes disclosed today for Parallel Ramp please click on the following link:
https://www.integragold.com/i/pdf/Forages_Parallel_Ramp_2015-03.pdf
To view a complete table of available composited results for the 2014-2015 drilling at Parallel Ramp please click on the following link:
https://www.integragold.com/i/pdf/2014-2015_Composites_Compilation_Parallel_Ramp_Condemn.pdf
2015 Drilling Program
The Company is presently drilling on Lamaque with a total of 8 drill rigs in operation, tasked at completing approximately 30,000 m of drilling during the winter on numerous key targets including the Parallel ramp condemnation, No. 3 Mine, No. 6 Vein, regional geophysical targets, and extensional drilling on the high-grade Triangle Zone. The remaining of the planned 50,000 m program for 2015 will be completed during the summer and fall of 2015.
To view a location map of infrastructures and known zones at Lamaque please click on the following link:
https://www.integragold.com/i/pdf/Zones_Loc_Infrastructure_Targets_2015-03.pdf
Project and Company Profile
Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east from the city of Val-d'Or along the prolific Abitibi Greenstone belt in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.
The Company's primary focus is on exploring, and subsequently develop if warranted, its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. The primary targets are the high-grade Parallel Zone in the North Cluster and the Triangle Zone in the South Cluster. The recently acquired Sigma Mill, located 1 kilometre from the Parallel Zone and 3 kilometres from the Triangle Zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. The Sigma-Lamaque Mill and Mine Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 million ounces of gold in total.
Qualified Person
The Lamaque South exploration project and Sigma-Lamaque Mill and Mine Complex, jointly known as the Lamaque project, is under the direct supervision of Hervé Thiboutot, Eng. Mr. Thiboutot is a QP as defined by the National Instrument 43-101. Alain-Jean Beauregard, P.Geo. and Daniel Gaudreault, Eng., Geo., of Geologica Inc., are responsible for the geological and technical supervision of the drilling and are independent QPs as defined by the National Instrument 43-101. The Company's QPs have reviewed the technical content of this release.
Quality Assurance - Quality Control ("QA/QC")
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to Bourlamaque Lab in Val-d'Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption finish, with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for all samples containing visible gold. When available the gravimetric or metallic sieve assay results are used for the reported composite intervals.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.